American Express Cuts Deal with Ripplenet – Giving Visibility and Speed to Global Commercial Payments

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The movement to modernize the global payment system is quickly gaining momentum as another major global service company joins RippleNet.

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American Express is the latest company to become a member of RippleNet, joining the ranks of Credit Agricole, Airwallex, Cuallix, and more.

American Express is joining Ripple’s Blockchain network to provide real-time, business-to-business global payments that will ultimately enhance their customers’ experience.

Initially, American Express FX International Payments (FXIP) will partner with Santander UK to create a transaction channel between the U.S. and U.K. — a first and a boon for the corridor. The U.S. is the U.K.’s largest trading partner, creating an immediate need for frictionless commercial global payments in the U.K. market.

Partnering to deliver faster, better service

By leveraging the power of RippleNet, FXIP customers will see an immediate improvement in how they send money globally.

Compared with the traditional payment process, Ripple’s Blockchain-enabled payments simplify connections with intermediaries and provide immediate end-to-end visibility into the transaction status and cost.

What’s more, FXIP’s use of RippleNet will maintain the level of security that American Express customers have come to know and expect.

“We’ve already seen evidence that Blockchain technology is playing a transformational role in the way customers are served,” said Greg Keeley, Executive Vice President of Global Corporate Payments at American Express.

“Not only does this partnership with Ripple help decrease the time it takes for international transactions to be processed, it can make our transactions more effective for our customers,” Keeley added.

Joining forces to avoid settling for less

FXIP’s partnership with Santander UK to send cross-border payments between the U.S and U.K  will help American Express not only streamline commercial payments, but also establish a wider footprint in the U.K.

José Luis Calderón, Santander’s global head of transaction banking, said, “This Blockchain solution opens up a new channel between the U.S. and the U.K. and presents a significant opportunity for payments globally.

“Collaborating with forward-thinking businesses has enabled us to deliver this cutting-edge, secure, friction-free payment solution and extend our ‘Simple, Personal, Fair’ philosophy to American Express and their customers.”

Ripple CEO Brad Garlinghouse agreed with Calderón’s statement stating:

“Ripple is taking a huge step forward with American Express and Santander in solving the problems corporate customers experience with global payments.”

“Transfers that used to take days will be completed in real time, allowing money to move as fast as businesses move today. It’s just the beginning, and we look forward to growing this partnership to help other American Express FXIP customers.

Contact them to learn more about Ripple’s growing network, and how other companies are helping to create one frictionless experience to send money globally.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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